2018 was a year when the crypto market received a hard blow, one that it has yet to recover from. The year was marked by significant price drops, market crashes, an ICO extinction, hacking attacks, and many other incidents that proved to be unfriendly for the steady progress of digital currencies.
However, investors remain optimistic regarding the future, and 2019 in particular. This is believed to be the year when a positive momentum will return once more, and when coins will get back on track.
Despite the bearish 2018, a lot of crypto projects managed to grow in other areas, even though their prices were dropping. Meanwhile, the crypto market became vast and filled with different altcoins, currently exceeding 2,100 individual projects.
While there undoubtedly many of them that have a lot of potentials, three of them are receiving more attention and coverage than others, apart from Bitcoin itself, at least.
The projects in question are XRP, Ethereum, and TRON. With a new year, a new hope for the future of crypto arrived as well, and these three coins have a pretty decent chance to blow up in 2019. Let’s see what makes them different than the others.
XRP, formerly known as Ripple, as a coin developed by the company Ripple Labs. Throughout its history, the coin usually had a relatively low price, which is currently only $0.30. This is not particularly impressive when compared to the price of Bitcoin, for example. However, XRP has managed to expand in other ways and is currently being used all around the world.
Ripple Labs’ two major products — xCurrent and xRapid — managed to capture the attention of over 100 banks around the world, all of which wish to implement these products to better their payment systems. The products allow any transaction to be completed almost instantly, and at a significant discount. This is one of the largest crypto use cases today, and thanks to this, XRP managed to become the second largest coin in the crypto market, with a market cap of $13.19 billion
Due to its connection to Ripple Labs and numerous banks, many have accused XRP of being centralized, not being a real cryptocurrency, and even of being security. However, over time, XRP managed to prove itself again and again, and most of these accusations are now in the past, with the coin being well on its way to becoming the first crypto to enter the mainstream.
Ethereum is known for being the second most important coin in crypto history, mostly due to the fact that it shifted investors attention from the coin to the blockchain, the technology that cryptocurrencies are based on. Thanks to ETH, dApp creation and smart contracts received a lot of the attention they previously lacked, and discovering new use cases for blockchain technology has become one of the largest tech-related trends in recent years.
For a long time, ETH also managed to keep its position as the second largest coin by market cap, until XRP recently dethroned it. Its price was also more than acceptable, with its all-time high being above $1,400. These days, ETH is the third largest coin with a price of only $107.46, but many believe that it might grow once again in 2019.
In the past several weeks, ETH received several updates, delivered via hard forks. The updates are expected to improve its network, and even attempt to solve scalability issues, which have been affecting digital currencies since Bitcoin’s first day. When combined with its potential for smart contracts and dApp creation, it is easy to see why investors and developers are still not ready to give up on ETH.
TRON is probably the most popular coins today, and it certainly achieved much in 2018. In a single year, that was extremely unfriendly for digital currencies, TRON managed to launch a TestNet, a MainNet, to perform a token swap, perform several large token burns, get listed on countless exchanges and wallets, launch multiple popular dApps, and even buy BitTorrent and announce a massive project centered around it.
However, despite all of these achievements, media coverage, and general hype regarding the project — its price has failed to respond. While its market cap did increase enough to grant TRX entry to the top 10 coins by market cap (currently being ranked as 9th largest crypto), it did not do much for its value, which is currently at $0.02799.
Many believe that the reason for this is the simple fact that the market doesn’t allow positive momentum, which is why TRON’s achievements do nothing for its value. Others believe that its achievements did have an impact and that they prevented the price from going lower than the current one. Whatever the case may be, TRX managed to survive two market crashes and an entire bearish year, from which it emerged strong and well-connected, with a strong potential to explode as soon as the conditions are right.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…